Search DubaiPRNetwork.com

Dubai and UAE
Home >> Healthcare & Medicine

Philip Morris International Demonstrates Clear Progress Toward Its Purpose as It Releases 2023 Integrated Report

Philip Morris International Demonstrates Clear Progress Toward Its Purpose as It Releases 2023 Integrated Report

Tuesday, April 16, 2024/ Editor -  

Share

Home >> Healthcare & Medicine

Report communicates PMI’s progress, including approximately 33 million estimated users of PMI’s smoke-free products, as well as over 40 percent of management positions held by women and 18 factories & 11 markets declared carbon neutral

Dubai, UAE – 16 April, 2024 - Philip Morris International Inc. (PMI) (NYSE: PM) released its fifth annual Integrated Report, which outlines the company’s ongoing work to advance toward its 2025 Roadmap goals, with the primary focus on addressing the health impacts of the company’s products.

The 2023 Integrated Report highlights PMI’s continued expansion of smoke-free alternatives in markets worldwide, as well as social and environmental programs deployed with and in parallel to these products—including the deployment of responsible marketing and sales practices and efforts to reduce post-consumer waste. Further, PMI reports its progress toward fostering an empowered and inclusive workplace, improving the quality of life of people in its supply chain, decarbonizing its operations and value chain, and preserving nature and biodiversity.

“2023 was a year marked by unity, determination, and a continued commitment to our vision of a smoke-free future,” said Jacek Olczak, Chief Executive Officer of PMI. “As we encounter new challenges, our people’s enduring resilience, exceptional talent, and depth of purpose ensure we are well-equipped to continue our journey—pursuing progress, embracing innovation, and fostering sustainability as we transform for good.”

PMI’s approach to sustainability is guided by the outcomes of its 2021 sustainability materiality assessment, which, following the principles of double materiality, identified the topics on which PMI focuses and prioritizes resources. PMI’s sustainability strategy addresses two distinct forms of topics: those related to its products (what the company produces), which are part of the “Product Impact” pillar, and those related to its business operations (how the company produces), which are part of the “Operational Impact” pillar.

Product Impact highlights

Social

Approximately 33 million estimated users of PMI smoke-free products, including 28.6 million IQOS users (2022: 24.9 million IQOS users)
36.4% of adjusted net revenues derived from smoke-free products (2022: 32.1%)
84 markets where PMI smoke-free products are available for sale, of which 47% are in low- and middle-income markets (2022: 73, 42%)
25 markets where smoke-free products represented more than 50% of annual net revenues (2022: 17)
USD 12.5 billion cumulative investment behind smoke-free products since 2008 (2022: USD 10.7 bn)
98% of total shipment volume covered by youth access prevention programs in indirect retail channels (2022: 91%)

Environmental

320,000 cumulative number of smoke-free electronic devices refreshed or repaired since 2021 (2022: 157,000)7
76% of shipment volume covered by markets with anti-littering programs in place for combustible cigarettes (2022: 68%)
17.6% of shipment volume covered by markets with smoke-free consumables take-back programs (2022: 8.5%)
 

Operational Impact highlights

Social

41.8% of management positions held by women, continuing to exceed our aspiration of 40% (2022: 40.7%)
8 human rights impact assessments conducted since 2018 in highest-risk countries (2022: 7)7
0.1% prevalence of child labor among contracted farmers supplying tobacco to PMI (2022: 0.1%)

Environmental

94% proportion of tobacco purchased at no risk of net deforestation of managed natural forest and no conversion of natural ecosystems (2022: 55%)
8.14 million cubic meters of water optimized in our tobacco-growing areas (cumulative since 2019) (2022: 4.94 million cubic meters)
 

PMI’s 2023 Integrated Report is complemented by country-level case studies on PMI.com that shed light on the company’s work in priority sustainability areas and market stories that complement our reporting by connecting and highlighting the impact the initiatives are seeking to have on society and the environment around the world.

“Strategic foresight unites our nonfinancial aspirations with financial outcomes. This is consistent with our purpose, which increasingly resonates with our stakeholders, and we believe powerfully demonstrates the interplay between societal impact and the generation of long-term shareholder returns,” explained Emmanuel Babeau, Chief Financial Officer of PMI. “Delivering a smoke-free future and excelling in our sustainability aspirations are not just ethically sound decisions, they are the bedrock of our strategy and the key to our shared success.”

In 2023, PMI’s sustainability performance was recognized by ESG ratings providers and sustainability-related organizations, including:

Achievement of CDP’s Triple A rating for the fourth consecutive year—placing PMI among the world’s leading companies in environmental transparency and action
Inclusion in CDP’s Supplier Engagement Leader Board for the seventh year
Inclusion in Dow Jones Sustainability World Index for the first time and the Dow Jones Sustainability North America Composite Index for the fourth consecutive year (index inclusion effective as of Dec. 18, 2023), in addition to being awarded “Prime” status in the ISS ESG Corporate Rating (ISS ESG Rating as of Nov. 21, 2023)
Validation from the Science Based Targets initiative (SBTi) on its Forest, Land, and Agriculture (FLAG) emissions reduction targets, making PMI one of very few companies to achieve this recognition
Named an Early Adopter for having committed to advancing the adoption of the Taskforce on Nature-related Financial Disclosures (TNFD) recommendations

“As we present this 2023 Integrated Report, we emphasize that delivering a smoke-free future is not just a priority, it is the essence of our purpose. The path we tread is marked by our ambition to lead, our vow to operate transparently, and our dedication to ensuring that cigarettes are relegated to history,” said Jennifer Motles, Chief Sustainability Officer of PMI. “We remain committed to transparent, consistent, and reliable reporting practices that allow external stakeholders to understand not only our performance but also how we are responding to a rapidly changing environment and planning for the long term, fostering a more sustainable and transparent business landscape.”

Please visit pmi.com/sustainability to learn more, and read the full 2023 Integrated Report, case studies and market stories, and the Sustainability KPI Protocol 2023.


Previous in Healthcare & Medicine

Next in Healthcare & Medicine


Home >> Healthcare & Medicine Section

Latest Press Release

Mohammed Bin Rashid Library Celebrates Filipino Culture in a Special Evening Fea ...

Al Qemzi fights back as Wyatt gives Sharjah team pole position in Sardinia

Remarkable Achievements and Milestones in the Mohammed Bin Rashid Library's Seco ...

Line Investments & properties, Summer Super Sale gets its first set of winners, ...

Turkish Airlines Launches "Inner Portrait" with Refik Anadol at Art Ba ...

Celebrate With LG This Eid Al Adha And Enjoy Up To 40% Off Home Entertainment An ...

Elevate your dining experience to royal heights with Asha's Maharaja-inspired sp ...

Malabar Gold & Diamonds announces HomeGoing offers for the summer holidays.

UAE Team Emirates take 1-2 victory at Tour de Suisse

Dubai Municipality allocates 3,150 cleaning supervisors and workers to oversee p ...

Dubai Customs Rolls Out Special Services for Returning Hajj Pilgrims and Eid Vis ...

Embrace Family Bonding Moments with Luxury Father's Day Offers at Sofitel Dubai ...

GEMS Education spearheads transformation of Arabic language learning with high-t ...

Health Tips for Pilgrims During the 2024 Hajj Season

Xiaomi introduces Redmi 13: Fun Features for Creativity

Mohammed Bin Rashid Library Announces Launching Five Research Theses Publication ...

Eid Al Adha Fun For Families: Shop, Win & Celebrate At Arabian Center

Jumbo Electronics Announces Exclusive Eid al-Adha Offers on Devices and Electron ...

Philip Morris International Tops Forbes' 2024 Net Zero Leaders List

Mohamed Bin Zayed University for Humanities Highlights Academic Progress in Late ...